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Revision of Depreciation Equipment with a cost of $777,400 has an estimated residual value of...

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Accounting

Revision of Depreciation Equipment with a cost of $777,400 has an estimated residual value of $89,400, has an estimated useful life of 40 years, and is depreciated by the straight-line method.

a. Determine the amount of the annual depreciation. $fill in the blank 1

b. Determine the book value after 20 full years of use. $fill in the blank 2

c. Assuming that at the start of the year 21 the remaining life is estimated to be 25 years and the residual value is estimated to be $95,900, determine the depreciation expense for each of the remaining 25 years.

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